Many people who are starting a company neglect to seek out the services of a strong business lawyer because they want to save money or they think they can handle things on their own.
However, anyone who has started a business before knows how complicated a process it can be. There are traps everywhere which can sink a business before it even has an opportunity to get going. It is absolutely in your company’s best interests to utilize the services of a business attorney like those at Doida Law Group for more reasons than you might realize.
In this blog we’ve explained three of six critical ways in which a business attorney can help your company during the startup process. Be sure to check back soon for Part II where we will detail three more important benefits:
1) Navigate complicated legal issues and documents
The laws governing businesses and founding a business can be extremely convoluted and difficult to navigate. There are numerous forms you have to fill out and procedures you have to follow to ensure legal compliance. An attorney will be familiar with all of the legal minutiae and help you navigate every legal hurdle. This is one aspect of the start-up process where you can’t afford to make a mistake.
Not only can a business attorney help you with the actual legal process of filing articles of incorporation, he or she can help you decide which legal entity will be best for you and your company. There are numerous business entity options available to you ranging from partnerships to limited liability companies (LLCs) to the various forms of corporations (S-corps, C-corps, etc). Each one has pros and cons when it comes to your personal liability, taxes, and regulatory procedures. A business lawyer can analyze your company’s status and goals and advise you as to which entity would be right for you.
3) Free you to focus on other things
We’ve already mentioned how a business lawyer can help your company with the legal minutiae of the startup process, but that aid includes an added benefit: you will have much more freedom to focus on the aspects of your company that are most important to you. Whether you need more time to develop your product or innovate new ideas, if you get bogged down in the procedural and legal aspects of starting a company, the actual product or service you are offering could suffer. There are few people that can truly handle it all when it comes to building a startup. Save yourself stress and struggle by delegating the legal aspects of the startup process to a business attorney.
Please check back soon to read Part II of this blog where we will outline three more practical ways a business attorney can help you survive the often laborious, demanding, and complicated process of starting your own business.